Search Results - Richardson, Ruth

Ruth Richardson

Ruth Margaret Richardson (born 13 December 1950) is a retired New Zealand politician of the National Party who served as Minister of Finance from 1990 to 1993. Her 1991 budget, which she dubbed the "Mother of all Budgets", formed the catalyst for her party's economic reforms known in the media as "Ruthanasia".

Richardson was a lawyer by profession. She was elected as the Member of Parliament (MP) for Selwyn in 1981. Following the National Party victory in the , Richardson was appointed as Finance Minister in the fourth National Government. She supported and carried on the free-market reforms initiated by the preceding Labour Government, and extended them in a significant way with the Fiscal Responsibility Act 1994. Richardon's economic restructuring, including privatisation of state assets and cuts to social welfare, contributed to New Zealand emerging from its fiscal problems. However, critics have noted the wide-ranging effects on New Zealand's social fabric including child poverty along with wealth inequality, which were both severely exacerbated.

Richardson was dismissed as Finance Minister following the ; she resigned from Parliament in 1994. She later joined ACT New Zealand. Provided by Wikipedia